In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 1% of the workers who were employed at the beginning of the month lose their jobs, and 16% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 5.88%. For the rates of job loss and job finding given, what will the unemployment rate be in February? \%. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 3% of those employed. The job loss rate returns to 1% in May, while the job finding rate remains unchanged at 16% throughout. Find the unemployment rate for April. \%. (Enter your response as a percentage rounded to two decimal places.) Calculate the unemployment rate for May, after the job loss rate returns to 1% in May. The job finding rate remains unchanged at 16%. (Enter your response as a percentage rounded to two decimal places.) Calculate the unemployment rate for May, after the job loss rate returns to 1% in May. The job finding rate remains unchanged at 16%. %. (Enter your response as a percentage rounded to two decimal places.) Given that the job loss rate remains at the May level of 1% and that the job finding rate remains unchanged at 16%, calculate the unemployment rate for June. \%. (Enter your response as a percentage rounded to two decimal places.) Given that the job loss rate and the job finding rate remain unchanged at 1% and 16% respectively, calculate the unemployment rate for July. \%. (Enter your response as a percentage rounded to two decimal places.) In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 1% of the workers who were employed at the beginning of the month lose their jobs, and 16% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 5.88%. For the rates of job loss and job finding given, what will the unemployment rate be in February? \%. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 3% of those employed. The job loss rate returns to 1% in May, while the job finding rate remains unchanged at 16% throughout. Find the unemployment rate for April. \%. (Enter your response as a percentage rounded to two decimal places.) Calculate the unemployment rate for May, after the job loss rate returns to 1% in May. The job finding rate remains unchanged at 16%. (Enter your response as a percentage rounded to two decimal places.) Calculate the unemployment rate for May, after the job loss rate returns to 1% in May. The job finding rate remains unchanged at 16%. %. (Enter your response as a percentage rounded to two decimal places.) Given that the job loss rate remains at the May level of 1% and that the job finding rate remains unchanged at 16%, calculate the unemployment rate for June. \%. (Enter your response as a percentage rounded to two decimal places.) Given that the job loss rate and the job finding rate remain unchanged at 1% and 16% respectively, calculate the unemployment rate for July. \%. (Enter your response as a percentage rounded to two decimal places.)